Badly needed drought relief. A look shows what to expect when el nino gets replaced by la nina. Today was the deadline for water agencies to tell the city if our winter was wet enough to raise water restrictions. David louie is live with an updated outlook. David . Reporter water sellers are concerned that it might send the wrong message saying its a bit early to assess if it could produce a wet, or dry winter. Its too early to tell. The stronger restraints need to be farther south with maybe less in the north. The control board is seeking input as it prepares to modify, or keep the current rules from 8 to 36 after near average rainfall in parts of the state. This comes as scientists are predicting a 71 chance of a la nina this winter. A wholesale manager says there is a need to build up supplies and levels. We dont know what next year is going to bring. It could be the first of multiple dry years. Conditions arent where they were before the drought started. We need to recover those. H
Points. Here are the big stories were watching today. Weyerhaeuser is buying plumb creek timber for 8. 4 billion in the total price tag. The combined company will keep the weyerhaeuser name and manage 13 million acres of timberland. You can see plumb creek timber up 17 in the premarket. The dubai air show is now open for business. The last show two years ago saw record breaking orders. Thats not the case this time. No major purchases yet announced. Some say this is raising the red flag about the longer term health of the business. And in other global news, lufthansa canceling more than 900 flights today due to a cabin crew strike. A union calling for a walkout in frankfurt, munich, dusseldorf. 900 flights canceled. We talked about it on friday, i dont remember a lot about it. I remember i had to say dusseldorf. I remember seeing that in the teleprompter and nailed it. Nailed it. So theres a five star hotel there. There might be but i wasnt there on vacation. You were you were not there
Cant comprehend it. Sometimes youre dazzled by all the ways that this market gives you to make money. Big money. Today was one of those days. Dow climbing 78 points. S p gaining 0. 4 . Let me tell you how that money was made and then more importantly, plain the take aways from each win. Because i need you to understand that the gains in this market have been extraordinary. Why is that . Simple. Its because managements will not let up about their stocks being too cheap. They hate it and they keep doing something about it. Meanwhile, other companies are now coming in to buy the stocks of still other companies that they think the stock market isnt paying enough for and are worth a great deal more to an acquirer. And still other companies have so much growth that their stocks cant seem to do anything but go higher. House of pleasure. Lets start with everyones what everyone is buzzing about. The 85 hostile bid for time warner launched today by murdochs company. We all know that the companie
A turning of the tide, big selloff yesterday of 238 points, asia down big overnight, europe down especially hard this morning and we were down, as you said, 130 until noon thereabouts, the return there. We are seeing plus signs right now for the most part. Lets check the rest of the market here, the s p and the nasdaq. We are getting closer to our boards here, our positive as well, the s and p up 3 1 2 points, 1949. The nasdaq is also higher by 16 points, see the russell two, guys, leading the way, the big laggard to the downside is the big gainer to the upside today with a gain of 1. 25 . I just want to mention because i mentioned this on street signs as well, bill, but friend of show was actually suggesting that maybe yesterday and the way there was maybe leading the market down or one of the reasons why it was leading the market down, maybe this capitulation and early on this morning down by 11 from its highs. Fully in correction territory and maybe the correction in the russell 2 k
Tornadoes and flash flooding. Before that lets take a look at the market. The u. S. Equity futures shaping up to a positive day with the bulls if they stay for the early trends. S p fauutures up by 3. 5 and nasdaq up by 14. Lets tell you the big stories were watching this morning. The april employment report due at 8 30 eastern time. Forecasters say the economy added 228,000 jobs last month. The Unemployment Rate is seen declining to 5. 4 to a near 7 year low but of course there are lots of varying views on what this could all mean including some much higher estimates and also much much lower estimates. Also Billionaire Oil man boone boonepickens say oil will hit 75 by end of year. He notes Oil Inventories peaked. And the New York Times reporting that Taxi Service Uber submitted a 3 millioned by for nokias map business. Its a competitor to google maps. Theyre teaming up on an offer for that service as well. Google bought waves too. Ways still has its own app. They have their own app. T